TORONTO - Shares of Whistler Blackcomb Holdings Inc. (TSX:WB) ticked higher on their first day of trading.
The stock traded for as much as $12.50 in the session after its initial public offering at $12 per share.
The offering raise about $300 million, which was used to acquire a 75 per cent interest in the partnerships that own the Whistler Blackcomb resort in British Columbia from Intrawest ULC.
Intrawest ULC holds approximately 34 per cent of the common shares of the corporation.
U.S. private-equity fund Fortress Investment Group acquired the ski hill when it bought resort operator Intrawest in a leveraged buyout in 2006.
Whistler Blackcomb, about 125 kilometres from Vancouver, was the main alpine skiing venue for the 2010 Winter Olympic Games.